CICC Projects MEITUAN-W (03690.HK) to Report RMB13.2B Adjusted Net Loss in 4Q25, Revises Down 2026/2027 Earnings Estimates
CICC's Revenue Forecast for MEITUAN-W: CICC predicts that MEITUAN-W's 4Q25 revenue will increase by 4% year-over-year to RMB91.9 billion, but anticipates an adjusted net loss of RMB13.2 billion.
Adjusted Net Loss Projections: The broker has maintained its 2025 adjusted net loss forecast at RMB16.8 billion and has significantly lowered its 2026 and 2027 profit estimates due to increased competition.
Stock Rating and Target Price: Despite the challenges, CICC has kept its rating for MEITUAN-W at Outperform, with a target price of $125, indicating a potential upside of 28%.
Short Selling Data: As of January 27, 2026, MEITUAN-W has experienced short selling of $506.67 million, with a short selling ratio of approximately 24%.
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HSI Declines by 199 Points; SANDS CHINA LTD Plummets 5%
Market Overview: The HSI opened 199 points lower at 27,627, with the HSCEI and HSTECH also experiencing declines of 60 points and 46 points, respectively.
Sands China Ltd Performance: Sands China Ltd saw a significant drop of 7.43% at open, despite a 16.4% YoY increase in net revenue for Q4 2025, as its adjusted property EBITDA fell short of forecasts.
Tech Stocks Movement: Major tech stocks like Tencent and Alibaba opened down by 1-1.4%, while Kuaishou saw a slight increase of 2.61%.
Gold and Mining Stocks: Gold and silver prices surged, leading to mixed performances among mining stocks, with some like SD Gold and Zhaojin Mining opening higher, while others like Chinagoldintl experienced a decline.
Guangzhou Plans to Distribute RMB50 Million in Dining Vouchers in Several Phases During Spring Festival
Government Dining Vouchers: Guangzhou will distribute RMB50 million in dining vouchers before and after the Spring Festival to promote local dining experiences.
Collaboration with Platforms: The initiative will utilize platforms like MEITUAN-W and Douyin to offer commercial discount coupons for residents and visitors.
E-commerce Mobilization: Guangzhou plans to engage e-commerce platforms and brand merchants such as Vipshop, JD-SW, and Alibaba to meet holiday demand.
Enhancing Shopping Experience: The city aims to boost online shopping by diversifying product categories, increasing discounts, and innovating consumption experiences.
